Upcoming Development Plan

On November 13, 2018, the Housing and Development Board (HDB) of Singapore put over 7200 flats for sale. While most of these are Build-To-Order (BTO) units, the rest are Balance Flats. Of the said number as many as 1,620 are units in Plantation Grove, Plantation District. Plantation is one of five developing housing districts in the upcoming town of Tengah.

Tengah, an agrarian locality that has served as a military training ground in the past, is being built up to become one of Singapore’s most eco-friendly new towns. It has earned the distinction of being the ”first forest town” of Singapore. It is also the first planned township in over two decades.

New Launch condo,Whistler Grand is finally launched at West Coast and it has received great attention right from the first day. City Development Limited developer recently gave an interview to The Sunday Times saying that out of 240 units launched on the day, 150 were snapped by around 5pm. The head of this property development firm told that these condos are gaining more popularity in the market due to their ultimate design, great location and affordability. Moreover, most of these units are priced at an affordable range of less than $1 million. Hence, people find it easier to invest on these wonderful condos.
Alan Cheong, the senior director of Savills Singapore recently told that 150 units that were sold present an estimated take-up the rate of 21% that is observed to be quite high for the current state of real estate market. Reports revealed that right when the total servicing ratio was introduced in the year 2013; properties were having only half of the take-up rate as compared to this recent sale.

It can be rather challenging to merge concrete developments with a natural and serene setting, but the developer in charge with the new condominium that will emerge at Kent Ridge Hill is determined to make it happen. ADDP Architects got this project from Oxley Holdings, who is looking to come up with the ideal urban escape, both for families and couples alike. Why is this location so special? It promises to provide all the comfort of a modern lifestyle together with the peacefulness of living in a green environment.

The truth is that when it comes to greenery, you’ll barely find any other place that can offer the same amount of green space and views like the ones found at Kent Ridge Hill. According to the developers, all the condos in the new development will be designed so that they will offer stunning views to their owners. How many units will be available? 548 is the number that is aimed by the development company, as 11 blocks and 50 landed houses are part of the project. Homebuyers will be able to choose between units with one single bedroom and up to units with three bedrooms, suitable for families. For those that wish to enjoy more space, 3 and 5 bedroom penthouses will also be available. Thus, it will only be a matter of personal perspective. To make sure that the gorgeous views can be enjoyed, most of the units are designed to be above the road, for an elevated position that will definitely offer a clearer horizon.

It has been reported that executive condominium segment was facing a huge shortage in supply. During the last years, the number of EC units sold by the developers amounted to 4,011. Despite this shortage in supply, 17 bids were fetched by an executive condominium (EC) site at a state tender. This site is located in SumangWalk in Punggol and the tender closed this Tuesday. Housing and Development Boardwas given the responsibilityof conductingthis tender. The board was also state’s acting Land sales agent.

These 17 bids in question have said to broken the previous bidding record in EC land. The site for which the record was made is Lake Life Site. It is located in Yuan Ching Road/Tao Ching Road. The record was made in July 2013.

Out of these 17 bids, the top bid was made by a joint venture of TID Residential (owned by TID Pte Ltd) and CDL Constellation (a subsidiaryof City Developments). The value of this top bid is S$509.37 million and it is a record in itself with regards to psfpprworth S$583.

The top bid made for this EC site in Sumang Walk is 64% higher as compared to the last top bid placed in August 2016. for the Anchorvale Lane. The value of its top bid was S$355 psfppr.

The second highest bid was recorded as S$486 million, 4.8% lower than the top bid. It was made by Qingijiang Realty. The thirdspot, in the top bid rankings, was jointly held by Soilbuild Group Holdings and Yanlord Singapore Residential. They offered S$450 million for this EC site. It was followed by a bid of S$446.6 million from a joint venture of Sunway Developments and Hoi Hup Realty.

An S$431.69 million bid was placed by Changi Properties, Sing Development, and FEC properties jointly. Next came a joint venture of Gamuda (Singapore) and Evia Real Estate as they placed the bid of S$426.37 million. MCC Land (Singapore) placed a bid of S$413.7 million and the lowest (S$373.81) was placed by Ho Bee Land unit HB Lombard.

The reason for these record-breaking bids, as per analysts, is said to be the lack of new EC sites in the market. During the last year, there was only one EC site offered in the GovernmentLand Sales Programme for sale, which is The Sumang Walk. As per Ong Teck Hui, JLL national director, these bids proved to be higher than their expectations. He is of the view that since last 1.5 year, there was no EC land tender. It contributed to the record-breaking bids. Othercontributions, as per his views, were made by a noted surge in the privateresidential market and unsold stock in the undersupplied market. It is assumed that the prices of EC are expected to rise by 20% by the completion of this project.

The top bidder of this project, CDL will be handling their 9thEC project. They have a positive outlook for this project. Sherman Kwek, CE of CDL, is of the view that the company has confidence in this project. They believe it is going to be successful due to its ideal location and various other features i.e. close proximity to various stations, easy accessibility, and various other amenities.

The article below might give you a more information on this EC land land bid

According to the latest developments, it seems that around 28 residential units in Tiong Bahru will be converted into residential homes with commercial shops on the ground floor.

The URA (Urban Redevelopment Authority) are looking to convert 28 of the residential units to retail shops. The change is designed to offer transparency for the commercial use and it’s also designed to serve the visitors and residents in a professional manner. Currently, the charming Tiong Bahru estate hosts 800 residential homes and 120 commercial businesses.

The time is changing and so is the lifestyle of the people. People are now preferring to live in places where they can get all the comforts and a decent gathering. This is where Singapore is not backing off as they are welcoming something new and exciting in the residential sector, the Park Colonial Condominium. Continue reading to know more about this place!

A new launch condominium in Bidadari called Park Colonial will be open for the people for a preview from this weekend. The sales will be starting from 14th of July. The building is developed by three estate developers, CEL Development, Heeton Holdings and KSH Holdings. The estate occupies the area of 19,547 sq. meters whereas it will consist of six towers with 805 residential units.

For real estate investors interested in the first ever private mixed residential-commercial development in Bidadari estate, good news is finally here. The Woodleigh complex is said to flag off sometime in September this year. The gigantic edifice will boast approximately 680 condo apartments. The developer consists of 28,000 square meter retail gross area. This project is handled by one of the best retail firms in Singapore: The Singapore Press Holdings in addition to the support Kajima Development. Kajima Development is a developer from Japan.

Also known as the Woodleigh Residences and Mall, resident condominium units will go for as much as $2,000 in a two, three and four bedroom setting per square foot. The SPH Chairman, Lee Boon Yang is hopeful that this real estate innovation will transform ordinary land into a structure suitable for residents to make their homes. He also made it known that the condominium is built in the best convenient surroundings and equipped with state of the art mall. Read more

Bukit Sembawang Estates is releasing a private residential project this year. They are launching 30 for sale. There were a total of 47 units in the first phase of this development. the average selling price for this new launch landed houses range from $2.8mil to about $3million

The 99 year leasehold development is among the first few residential development in Singapore that uses the envelope control guidelines. These are bringing in a lot of flexibility when it comes to the interior configuration and design. The guidelines have multiple micro controls and that’s quite a unique perspective in this regard.

A new residential plot (development is named Whistler Grand) will soon be released for tender by the Urban Redevelopment Authority (URA). The plot is located along West Coast Valve and is just adjacent to the previous new launch condo, Parc Riviera.

Located along West Coast Valve, this land parcel is standing within a high-rise private residential enclave, Other than the upcoming Parc Riveria, it is also surrounded by private condominiums such as The Clement Canopy (new launch condo), Botannia, Infinity and etc.

Urban Redevelopment Authority (URA) is now offering excellent opportunities for development in Buangkok. This northeastern area of Singapore offers convenient access to many recreational sites and exceptional room for future growth.

URA has a great vision for this area, turning it into a one-stop locale that will be readily connected to major hubs including the Seletar Aerospace Park and the Punggol Digital District. Both of these facilities are presently in the works. The plan also proposes a future child care center, community club, and the Hawker Center. The entire designing process is focusing on easy accessibility for private residents and public enterprises.

Located at the intersection of Sengkang Central and Compassvale Bow, the planning area is conveniently next door to the Buangkok MRT Stations and bus service.

With the combination of so many amenities and retail outlets, this location will be a prototype for the larger Buangkok neighbourhood The blueprints will provide public areas that are easily accessed by the bus service and offer people an excellent area for gathering and having social events.

The redevelopment of this area will be designed to meet the requirements of its residents while emphasizing the plans for the larger Buangkok area. The larger Buangkok area presently offers both private and public residences including Compassvale Helm, Esparina Residences, Atrina, Jewel @ Buangkok, and Aspella to name a few.

Public & Residential Friendly:

The completed project will offer streets designed for pedestrians to create a comfortable and exciting street-life environment, cycling, walking, and excellent transportation to and fro. The private residential units will be nearby the MRT Station and Bus Interchange for residences to easily travel to other areas of Singapore.

Architecture Takes On The Tropics:

Singapore is a tropical environment and the developers believe this should be incorporated into the design throughout the community and transportation. This project will emphasize Singapore’s rich background of its natural tropical climate.

How Proposals Are Awarded To The Highest Bidder:

Under the Concept and Price Revenue system, contractors must submit their proposals and pricing separately in different envelopes. Their proposals must layout the contractor’s development plans and will then be evaluated on the following requirements:

• The Overall Quality of Their Designs
• The Overall Quality of the Public Area
• The Contractor’s Track Record

Further information regarding the details of the concept and price revenue can be found under Part VII of the Technical Conditions of Tender.

The committee for the proposals will evaluate the plans against the criteria. Proposals that satisfy the committee and are accepted will be posted by the CEC (Concept Evaluation Committee). The process will then began again through their second phase.

The second phase covers the price proposals for acceptable plans are then taken into consideration. Once these two phases are completed, the site will then be awarded to the highest bidder.

URA is presently offering an exceptional opportunity for developers to embark on a brand new concept for residential and public facilities. Buangkok could be a flagship for other communities in the very near future.

More and more Singapore Condos have been taken over by developers, revamped, and being placed back on the market. One such condo is Parc Bonannia which is through Sing Holdings and will go on sale in Nov 2017. This condominium offers one, two, three, four, and five bedroom units that range from 431 sq ft to 1,679 sq ft. Pricing runs from $1,280 per sq foot and up.

A commercial site was put out for sale by the URA, the parcel with a surface of 950,593 sq. ft. having specific guidelines to be respected by the developer that will win the bid. According to URA, the future development could have up to 45 stories, although the majority of the space available must be dedicated to the making of offices. More precisely, 70% of the development has to be used in this direction, while the rest could easily be utilized for the making of residences, hotel, or shops, according to the future plans of the developer. In this case, we are talking about GuocoLand, the developer that won the bid for this site by paying $1.622 billion for it.

Five different bidders competed for this land, the bid of GuocoLand being the highest of all on the 28th of September, the date at which the tender closed. There are already two developments in the area that have mixed uses, the Duo and South Beach Tower, which points out toward the direction the new development is most likely to take as well. And whoever made this prediction was not wrong, the winning bidder announcing that the new development will be created to answer to the changing trends concerning work-live-play spaces. The main mission behind this daring project is to turn the district into a touristic and business venue at the same time.

Singapore is a place where surprises can happen when you least expected. Records exist, with the purpose of making predictions and plans, but, apparently, these records don’t always reflect the current reality. The same happened in the case of Amber Park, a development that managed to break the records ever set in Singapore when it came to freeholdcollective sales. Located in the Amber Gardens and offering no less than 200 units, the beautiful development was sold for the incredible sum of $906.7 million to the Hong Leong Group. Cityzens Development and Hong Realty are the two companies from this group, with private ownership, which bid for this development and won. What will happen to Amber Park? Well, most certainly it will be redeveloped into something more spectacular.

On the 29th of September, the Urban Development Authority officially announced that a developed filled an application to purchase the housing parcel available where the former Zouk stands today, on the Jiak Kim Street. Apparently, this bidder took the commitment to offer at least $689 million for the property, which led to URA deciding to put the parcel up for sale. With a surface that exceeds 13,000 square metre, the former Zouk could easily have a height of 36 levels and provide a number of 525 beautiful apartments for the residents of Singapore.